Register a company in Gibraltar and open an account with a Belizean bank – from 7,699 EUR
Establishing a company in such a credible jurisdiction as Gibraltar will allow doing business freely all around the world. A corporate bank account in Belize will cost little to maintain and it will let you make US dollar transactions without any problems. Far from all modern banks can boast this feature.
The jurisdiction of Gibraltar
Gibraltar is a tiny British overseas territory at the southernmost tip of the Iberian Peninsula. It is the only point in Europe from which the African continent is visible. It borders Spain in the north and the Straights of Gibraltar connect the Mediterranean Sea with the Atlantic Ocean.
The territory of Gibraltar is less than 7 square kilometers (2.6 square miles) while its population currently exceeds 33.000 people, which makes it a densely populated area.
The official language in this territory is English although many Gibraltarians speak Spanish.
Gibraltar has its own national currency – the Gibraltarian pound – but it is exchanged to the British pound at par value. The Government of Gibraltar is the agency that mints coins and prints banknotes.
De facto, Gibraltar is a modern democratic state with a Parliament of seventeen members and a Government with the Chief Minister as its head. The Governor of Gibraltar acts as Her Majesty’s representative in the territory.
Gibraltar has a unique legal status that makes this jurisdiction especially inviting to set up a business company there. It is an EU member state, which immediately gives it high credibility necessary for making business deals. At the same time, Gibraltar is free from some drawbacks that come with the EU membership.
First, it is the only European territory where no VAT is levied. This means that Gibraltar resident corporations do not have to register for this tax. Second, Gibraltar is not a member of the European Customs Union. Therefore, the territory does not allocate any part of its customs revenues to the EU. Third, it does not have to follow the Common Agricultural Policy requirements.
As far as Gibraltar economy is concerned, it mostly makes profit from shipping, financial services, and tourism. In addition to that, a Gambling Act was passed in Gibraltar in 2005 that made the territory attractive for Internet gambling companies. This type of business requires obtaining a license in Gibraltar, which is not an easy thing to do. However, a large number of gambling service providers, including a few large ones, have come to the territory since the piece of legislation mentioned above offers some serious benefits to such companies.
Company registration in Gibraltar
All the standard legal entity types can be registered with the Gibraltarian authorities. These include:
- Sole proprietorships;
- Private limited liability companies;
- Public limited liability companies;
- General partnerships;
- Limited partnerships;
- Segregated portfolio companies;
- Not-for-profit organizations.
Every company shall have minimum one shareholder and minimum one director. Public companies shall appoint minimum two directors. At the same time, in contrast to other European states, neither the shareholders nor the directors have to be residents of Gibraltar.
Other advantages of setting up a business company in Gibraltar include the following:
- With our assistance, it is possible to register a company in Gibraltar without paying a personal visit to the territory;
- In addition to the VAT exemption, Gibraltar registered companies deriving profits from international business operations do not have to pay any taxes on these profits: only revenues obtained from business transactions with local residents are taxed;
- The shareholders of a joint-stock company do not have to conduct General Meetings in Gibraltar: they can meet in any country of the world;
- For many company types, there is no minimum registered capital requirement;
- Nominee director/ shareholder services are available in Gibraltar at an additional cost;
- There is a possibility to maintain a high level of confidentiality of the company real owners’ personal information.
Of course, there are certain requirements that a foreign national has to meet in order to set up a corporation in Gibraltar. First, it is mandatory to have a legal address and an official postage address for the company. All the correspondence from the judicial and financial authorities will come to this address.
Second, a Gibraltarian resident shall be employed as the company Secretary. An individual person or a corporate entity can act as the Secretary. (The same holds for the shareholders and directors, by the way.)
Third, annual tax reports shall be filed to the Gibraltar tax office. At the same time, small- and medium-size companies have to submit a simplified version of the balance sheet without even supplying the profit and loss statement.
Forth, an annual company renewal fee of 200 pounds shall be paid. This fee is mandatory for all business companies in Gibraltar and it serves as a substitution for taxes.
If you are interested in forming a company in Gibraltar, please tell us so by writing to email@example.com. Our specialists will send you a short list of documents that you will have to submit in order to establish a corporation in Gibraltar without leaving the comfort of your home.
A corporate bank account in Belize
Belize is also a small state but it is located in Central America. It also used to be a British colony before but since 1981, it has been an independent country.
The territory of Belize is 23,000 square kilometers (8,880 square miles). In addition to the mainland territory, the country possesses around 200 islands that attract a great number of tourists by their coral riffs. The population of Belize is a little over 300,000 people. The majority are of Spanish ancestry but other ethnic groups are present too. The official language in the country is English but one can often hear Spanish and Creole spoken in the streets.
Today Belize offers wonderful conditions for doing business there but this jurisdiction is especially famous for its offshore banking services. Belizean banks compare favorably to most European and North American banks on several points.
The political situation is stable is Belize and it is safe to keep your money in this country. The local currency is the Belizean dollar but it is pegged to the US dollar at 2 to 1.
The Belizean bank that we are bringing to your attention here is one of the oldest offshore banks in the country. It is proud to have qualified personnel and vast experience in providing banking services to clients from different countries. Opening an account with this bank will give you splendid opportunities to invest into new markets and use the world-class services.
Unlike most banks in the first-world countries, this Belizean bank has very low first deposit requirement and account opening and maintenance fees.
- Security deposit – US$ 1,000
- Account opening fee – US$ 100
- Account maintenance fee – US$ 14.50 per month.
You can open a corporate withdrawable account with this bank that will perform the functions of a normal transactional account.
- Acceptable account currencies: USD, CAD, EUR, GBP, and CHF;
- Minimum first deposit — US$ 1,000 or the equivalent in another currency;
- Account opening fee – US$ 100, and US$ 350 for American citizens;
- Monthly account maintenance fee – US$ 14.50;
- Interest on the deposit up to US$ 9,999.00 is 0%;
- Interest on the deposit above US$ 10,000.00 is 0.1%;
- The interest is paid monthly to the same account;
- The information about the account balance is accessible 24/7.
You can also set up a fixed-term account in this bank that will pay a larger interest. Thus you can earn money with this bank.
- Acceptable account currencies: USD, CAD, EUR, GBP, and CHF;
- Minimum deposit — US$ 25,000 or the equivalent in another currency;
- The deposit term is 1 to 5 years. The interest rate will depend on the concrete term;
- The interest can be paid monthly, quarterly, or yearly to your account in this bank or to any other bank account that you will have indicated.
On top of that, soon you will be able to obtain a prepaid MasterCard from this bank that you can use worldwide.
Secure Internet banking
Using the Internet to acquire access to banking services has become the standard of the modern life. The Belizean bank that we are describing here is very serious about online banking in what concerns the clients’ security. The bank employs the most up-to-date security technologies when providing Internet banking services. Apart from that, the Belize state agencies audit the bank regularly to ascertain that all the transactions that the bank performs are legal.
- Deposit or withdraw cash – 3% of the sum (a two-business-day notification is required);
- A copy of a bank statement — US$ 5.00 plus the courier service cost;
- International courier delivery — minimum US$ 50.00;
- Local courier delivery — minimum US$ 10.00;
- Bank certificate — US$25.00;
- Internal money transfer – US$5.00 per transfer.
- Incoming payments – US$10.00 plus the commission of the correspondent bank;
- Outgoing payments – US$100.00 per payment.
If you would like to open a corporate account for your Gibraltarian company with this Belizean bank, you have to be prepared to submit quite a long list of documents to us so that we can set up an account for you remotely. When you place a request for our combined service “a company in Gibraltar and a bank account in Belize”, we will ask you for the following documents:
For all company owners, directors, shareholders, account signatories, and other beneficiaries:
- Bank account opening application forms – printed out, completed, and signed (we will supply these forms to you and help you fill them out);
- Notarized color copies of the passport photograph and signature pages or any other acceptable identification document;
- A notarized copy of a proof of address (a utility bill, for instance);
Please note that the last document has to be not more than two months old with this bank.
- A letter of recommendation from the bank that has serviced you for at least one year;
- A letter of recommendation from a professional (such as a lawyer or accountant) with whom you have had working relationships for at least one year;
- Notarized copies of share certificated (if your company has issued shares) or a copy of the Deed of Trust (if the company has corporate shareholders);
- A notarized power of attorney in the name of our agent who will open the account on your behalf;
- A notarized copy of the Minutes of the General Meeting and/ or Memorandum and Articles of Association, company By-laws, operating agreement, etc.;
- A notarized copy of the company Certificate of Incorporation;
- A notarized copy of the Certificate of Good Standing (in case the company has been in existence for more than one year);
- A notarized copy of the Certificate of Shareholders/subscribers if yours is a joint-stock company.
In addition to that, you will have to supply a description of the company business activities and its working structure (turnover, partners, working regions, mutual settlement systems, company organography, if applicable, etc.)
Please note that all the documents listed above shall be made in English or translated into this language otherwise. If the latter is the case, all the translated documents have to be apostilled. Please also note that the bank may request additional documents.
Opening a corporate account with this Belizean bank will take not less than two weeks since they receive the full package of documents properly ordered and completed.
The procedure of opening a company in Gibraltar and a bank account for it in Belize
When you are planning to establish a business company abroad, you have to be prepared to incur some maintenance expenses in any case. With the proposal that we are making here, your foreign company maintenance costs are going to be minimal. In addition, with this offer you can economize on company establishment expenditures as a combined service naturally costs less that separate services would cost on aggregate.
You have to perform the following tasks in order to start a company in Gibraltar with a corporate account in a Belizean bank without visiting any of the countries:
- Inform us of your desire to do so by writing to firstname.lastname@example.org. Before we proceed with your request, our consultants will have to find out if we are able to provide these services to you as each individual case will be different.
- Cover the cost of our services that starts at 7,699 EUR.
- Send us the full list of documents required for company establishment and account opening. We will supply all the bank forms to you and assist you in completing them. We will also make sure that all the required documents are in place before sending the packages to the Gibraltarian Registrar and to the bank.
At this point, your job is over and ours is on. Even though we cannot make any guarantees on behalf of the Registrar and the bank administration, we promise that with our assistance and vast experience in these matters you will have the best chances for success in this endeavor.
If you would like to clear out certain issues with us before placing a service order, please do not hesitate to contact us via the e-mail address indicated above. We will gladly – and promptly – answer all your questions concerning company registration in Gibraltar and account opening in Belize.